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Circle Centre mall could get a $20M facelift

Posted at 1:54 PM, Sep 22, 2015

INDIANAPOLIS -- The Circle Centre Mall could be getting a facelift soon, thanks to a proposed $20 million of improvements by Simon Property Group Inc., which manages the mall's operations.

The facelift would include new lighting and seating, an upgraded food court, bathrooms, a new mall entrance on Georgia Street and improvements to other entrances, according to the Indiana Business Journal.

The mall spurred a downtown renaissance 20 years ago, but has struggled in recent years.

Simon manages the mall, but only owns 15 percent, so the proposed deal would need to be approved by the ownership group led by Eli Lilly and Co.

The signs of struggle for the mall have shown in the form of high-end stores leaving the downtown spot, and the IBJ says their sales per square foot are lackluster at $326 in 2013, far below the average for Simon malls nationwide.

For comparison, the Fashion Mall at Keystone reported $818 in sales per square foot, according to the IBJ.

Read more from the IBJ here.

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